Loading…

Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach 1

We evaluate the process of financial and trade integration in 26 European Union (EU) countries over the period 1993 - 2012. We distinguish between "new" and "old" EU countries to compare the processes of financial and trade integration in the developed countries and formerly cent...

Full description

Saved in:

Bibliographic Details
Published in:	Ekonomický časopis 2015-08, Vol.63 (7), p.686
Main Authors:	Kucerová, Zuzana, Pomenková, Jitka
Format:	Article
Language:	English
Subjects:	Balance sheets Business cycles Correlation analysis Developing countries Economic crisis Eurozone Fixed exchange rates Foreign exchange rates Foreign investment Integration International finance International trade LDCs Literature reviews Monetary policy Securities markets Studies Volatility
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

cited_by
cites
container_end_page
container_issue	7
container_start_page	686
container_title	Ekonomický časopis
container_volume	63
creator	Kucerová, Zuzana Pomenková, Jitka
description	We evaluate the process of financial and trade integration in 26 European Union (EU) countries over the period 1993 - 2012. We distinguish between "new" and "old" EU countries to compare the processes of financial and trade integration in the developed countries and formerly central-planned economies. We use classical and moving correlation, dynamic correlation, and wavelet co-spectrum. Classical and moving correlation shows the strong relation until 2008. Dynamic correlation confirms strong relation for long and business cycle frequencies. Specification via wavelet co-spectrum reveals that long frequencies are correlated in the period 2000 - 2009, business cycle frequencies in the period 1993 - 1994 and 2003 - 2004 and middle frequencies generally in the period 2008 - 2010. The process of financial integration was stronger in the old EU member countries while the process of trade integration in the new member countries.
format	article
fullrecord	<record><control><sourceid>proquest</sourceid><recordid>TN_cdi_proquest_journals_1734993833</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>3872528731</sourcerecordid><originalsourceid>FETCH-proquest_journals_17349938333</originalsourceid><addsrcrecordid>eNqNzM0KgkAUBeBZFGQ_73ChtTAyVtouzKhtGS3lpldTbMZmxqC3z6gHaHXgnI8zYA7nnnAFF4sRGxtTc-7zpR847LqrJMqswgZQ5pBozAkO0lKp0VZKgirgRA1llnKIz3Cksm_NGrYvifcqg0hpTc3Xfh4u-Oy5hU3baoXZDbwpGxbYGJr9csLmuziJ9m4PHh0Zm9aq07KfUm8l_DAUgRDiP_UGU7hDzg</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>1734993833</pqid></control><display><type>article</type><title>Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach 1</title><source>ABI/INFORM Global</source><creator>Kucerová, Zuzana ; Pomenková, Jitka</creator><creatorcontrib>Kucerová, Zuzana ; Pomenková, Jitka</creatorcontrib><description>We evaluate the process of financial and trade integration in 26 European Union (EU) countries over the period 1993 - 2012. We distinguish between "new" and "old" EU countries to compare the processes of financial and trade integration in the developed countries and formerly central-planned economies. We use classical and moving correlation, dynamic correlation, and wavelet co-spectrum. Classical and moving correlation shows the strong relation until 2008. Dynamic correlation confirms strong relation for long and business cycle frequencies. Specification via wavelet co-spectrum reveals that long frequencies are correlated in the period 2000 - 2009, business cycle frequencies in the period 1993 - 1994 and 2003 - 2004 and middle frequencies generally in the period 2008 - 2010. The process of financial integration was stronger in the old EU member countries while the process of trade integration in the new member countries.</description><identifier>ISSN: 0013-3035</identifier><language>eng</language><publisher>Bratislava: Slovak Academy of Sciences, Institute of Economic Research</publisher><subject>Balance sheets ; Business cycles ; Correlation analysis ; Developing countries ; Economic crisis ; Eurozone ; Fixed exchange rates ; Foreign exchange rates ; Foreign investment ; Integration ; International finance ; International trade ; LDCs ; Literature reviews ; Monetary policy ; Securities markets ; Studies ; Volatility</subject><ispartof>Ekonomický časopis, 2015-08, Vol.63 (7), p.686</ispartof><rights>Copyright Slovak Academy of Sciences, Institute of Economic Research 2015</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.proquest.com/docview/1734993833/fulltextPDF?pq-origsite=primo$$EPDF$$P50$$Gproquest$$H</linktopdf><linktohtml>$$Uhttps://www.proquest.com/docview/1734993833?pq-origsite=primo$$EHTML$$P50$$Gproquest$$H</linktohtml><link.rule.ids>314,777,781,11669,36041,44344,74644</link.rule.ids></links><search><creatorcontrib>Kucerová, Zuzana</creatorcontrib><creatorcontrib>Pomenková, Jitka</creatorcontrib><title>Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach 1</title><title>Ekonomický časopis</title><description>We evaluate the process of financial and trade integration in 26 European Union (EU) countries over the period 1993 - 2012. We distinguish between "new" and "old" EU countries to compare the processes of financial and trade integration in the developed countries and formerly central-planned economies. We use classical and moving correlation, dynamic correlation, and wavelet co-spectrum. Classical and moving correlation shows the strong relation until 2008. Dynamic correlation confirms strong relation for long and business cycle frequencies. Specification via wavelet co-spectrum reveals that long frequencies are correlated in the period 2000 - 2009, business cycle frequencies in the period 1993 - 1994 and 2003 - 2004 and middle frequencies generally in the period 2008 - 2010. The process of financial integration was stronger in the old EU member countries while the process of trade integration in the new member countries.</description><subject>Balance sheets</subject><subject>Business cycles</subject><subject>Correlation analysis</subject><subject>Developing countries</subject><subject>Economic crisis</subject><subject>Eurozone</subject><subject>Fixed exchange rates</subject><subject>Foreign exchange rates</subject><subject>Foreign investment</subject><subject>Integration</subject><subject>International finance</subject><subject>International trade</subject><subject>LDCs</subject><subject>Literature reviews</subject><subject>Monetary policy</subject><subject>Securities markets</subject><subject>Studies</subject><subject>Volatility</subject><issn>0013-3035</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2015</creationdate><recordtype>article</recordtype><sourceid>M0C</sourceid><recordid>eNqNzM0KgkAUBeBZFGQ_73ChtTAyVtouzKhtGS3lpldTbMZmxqC3z6gHaHXgnI8zYA7nnnAFF4sRGxtTc-7zpR847LqrJMqswgZQ5pBozAkO0lKp0VZKgirgRA1llnKIz3Cksm_NGrYvifcqg0hpTc3Xfh4u-Oy5hU3baoXZDbwpGxbYGJr9csLmuziJ9m4PHh0Zm9aq07KfUm8l_DAUgRDiP_UGU7hDzg</recordid><startdate>20150810</startdate><enddate>20150810</enddate><creator>Kucerová, Zuzana</creator><creator>Pomenková, Jitka</creator><general>Slovak Academy of Sciences, Institute of Economic Research</general><scope>0U~</scope><scope>1-H</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FRNLG</scope><scope>F~G</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>M2O</scope><scope>MBDVC</scope><scope>PADUT</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>PYYUZ</scope><scope>Q9U</scope></search><sort><creationdate>20150810</creationdate><title>Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach 1</title><author>Kucerová, Zuzana ; Pomenková, Jitka</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-proquest_journals_17349938333</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2015</creationdate><topic>Balance sheets</topic><topic>Business cycles</topic><topic>Correlation analysis</topic><topic>Developing countries</topic><topic>Economic crisis</topic><topic>Eurozone</topic><topic>Fixed exchange rates</topic><topic>Foreign exchange rates</topic><topic>Foreign investment</topic><topic>Integration</topic><topic>International finance</topic><topic>International trade</topic><topic>LDCs</topic><topic>Literature reviews</topic><topic>Monetary policy</topic><topic>Securities markets</topic><topic>Studies</topic><topic>Volatility</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Kucerová, Zuzana</creatorcontrib><creatorcontrib>Pomenková, Jitka</creatorcontrib><collection>Global News & ABI/Inform Professional</collection><collection>Trade PRO</collection><collection>ProQuest Central (Corporate)</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>Research Library (Alumni Edition)</collection><collection>ProQuest Central (Alumni)</collection><collection>ProQuest Central</collection><collection>ProQuest Central Essentials</collection><collection>AUTh Library subscriptions: ProQuest Central</collection><collection>ProQuest Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central</collection><collection>Business Premium Collection (Alumni)</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Central Student</collection><collection>Research Library Prep</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Professional Standard</collection><collection>ABI/INFORM Global</collection><collection>ProQuest research library</collection><collection>Research Library (Corporate)</collection><collection>Research Library China</collection><collection>One Business (ProQuest)</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central China</collection><collection>ABI/INFORM Collection China</collection><collection>ProQuest Central Basic</collection><jtitle>Ekonomický časopis</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Kucerová, Zuzana</au><au>Pomenková, Jitka</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach 1</atitle><jtitle>Ekonomický časopis</jtitle><date>2015-08-10</date><risdate>2015</risdate><volume>63</volume><issue>7</issue><spage>686</spage><pages>686-</pages><issn>0013-3035</issn><abstract>We evaluate the process of financial and trade integration in 26 European Union (EU) countries over the period 1993 - 2012. We distinguish between "new" and "old" EU countries to compare the processes of financial and trade integration in the developed countries and formerly central-planned economies. We use classical and moving correlation, dynamic correlation, and wavelet co-spectrum. Classical and moving correlation shows the strong relation until 2008. Dynamic correlation confirms strong relation for long and business cycle frequencies. Specification via wavelet co-spectrum reveals that long frequencies are correlated in the period 2000 - 2009, business cycle frequencies in the period 1993 - 1994 and 2003 - 2004 and middle frequencies generally in the period 2008 - 2010. The process of financial integration was stronger in the old EU member countries while the process of trade integration in the new member countries.</abstract><cop>Bratislava</cop><pub>Slovak Academy of Sciences, Institute of Economic Research</pub></addata></record>
fulltext	fulltext
identifier	ISSN: 0013-3035
ispartof	Ekonomický časopis, 2015-08, Vol.63 (7), p.686
issn	0013-3035
language	eng
recordid	cdi_proquest_journals_1734993833
source	ABI/INFORM Global
subjects	Balance sheets Business cycles Correlation analysis Developing countries Economic crisis Eurozone Fixed exchange rates Foreign exchange rates Foreign investment Integration International finance International trade LDCs Literature reviews Monetary policy Securities markets Studies Volatility
title	Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach 1
url	http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-20T10%3A59%3A06IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Financial%20and%20Trade%20Integration%20of%20Selected%20EU%20Regions:%20Dynamic%20Correlation%20and%20Wavelet%20Approach%201&rft.jtitle=Ekonomick%C3%BD%20%C4%8Dasopis&rft.au=Kucerov%C3%A1,%20Zuzana&rft.date=2015-08-10&rft.volume=63&rft.issue=7&rft.spage=686&rft.pages=686-&rft.issn=0013-3035&rft_id=info:doi/&rft_dat=%3Cproquest%3E3872528731%3C/proquest%3E%3Cgrp_id%3Ecdi_FETCH-proquest_journals_17349938333%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=1734993833&rft_id=info:pmid/&rfr_iscdi=true